Apache Capital targets €715m for its second UK BTR venture

Apache Capital has launched its second U.K. build-to-rent (BTR) venture, aiming to raise £600 million (€715 million/$773 million), reported other media outlets.

Apache Capital also has a BTR joint venture with Moda Living, which raised £400 million (€477 million/$515 million) of equity. The venture recently launched a public consultation on their plans to deliver a 720-unit build-to-rent scheme in Birmingham’s Jewellery Quarter. If permission is granted by Birmingham City Council, the scheme will be the venture’s second site under development in the city after The Mercian, which at 42 stories is Birmingham’s and the Midlands’ tallest residential tower under construction, with a further 13 stories recently being granted by the authority.